Staking, most certainly a buzzword in this space however we didn't want to just add something for the sake of it. Like everything we do in this project, it has to meet certain criteria. Firstly, it is important to consider the sustainability and longevity of such. Whether it is something our community wants and will it add extra value to the NFTs they have invested in. We are completely satisfied that the system we have created has ticked all our boxes and that is why we decided to proceed with creating our very own in house staking platform. Just like everything, we haven't outsourced this build, it has been created solely by our developer Haz.
We have opted for a custodial staking platform. We understand from the outlook this can be slightly daunting however, for us to offer you the best of variety in options and rewards this is the way the platform operates. The benefits of a custodial platform come in the way of: less Chillaz being on the market, therefore increasing scarcity which in turn can reflect with a higher demand equaling a higher floor price. It also allows us to reward users for different lockup periods. Users will gain a reward bonus multiplier the longer they lockup their ChainChillaz, without custodial staking we would not be able to offer this. We have ensured to add variety in the time you lock your ChainChillaz up for including an option for a 0 day lockup, meaning you can pull your NFTs back instantly whenever you need. However this will not have an additional reward multiplier.
Users can stake a maximum of 100 ChainChillaz at once, and they must be staked in batches of up to 10.
Each ChainChillaz NFT you stake will have its own individual rarity score displayed on the website, this will then reflect how many $CHILLAZ you are earning each day on this NFT. The higher the rarity, the more you will earn. We have also added additional reward multipliers which come in the way of "bonus attributes". Every week there will be new bonus traits which will appear on the top right of the platform, if you stake a ChainChillaz NFT with any of those traits you will receive an additional multiplier for the time it is active, this will be automatically applied.
One thing to note is when you "unstake" your assets, you will be unstaking all the assets you staked in that group together. So if you wanted to be super precise you must stake each asset individually.